Import tax

[Steve007]

Hi i'm worried about buying my Silver from the EU due to import tax, i was wondering if anyone has bought since to new rules are in place, if i bought £240 of Silver from the EU how much extra do i have to pay, if i'm reading it right i have to pay tax to the courier company is this true.

[BackyardBullion]

VAT on import is 20% and then most shipping couriers will have a handling fee of £8 to £20 from experience. 

So a £240 order would mean VAT of £48 + handling making probably close to £300 order

[Steve007]

Already Subcribed BYB. BIG FAN 

[goldhunter]

I bought two una and the lion silver 10 oz bars from Apmex in the US via ebay.

Why?. Because even with the import duty it worked out £40 cheaper than buying direct from the Royal Mint.

When the delivery person showed up I opened the door with debit card in hand ready to pay the £120+ handling charge that I was expecting.

The driver handed me the invoice for the said amount and rang head office to process the payment.

I could hear the conversation and the person in the office said that the invoice was closed, which meant I had nothing to pay.

Unless a guardian Angel paid the invoice for me this has to be a mistake in my favour.

Don't worry I am NOT a tax dodger. Next time I am in London I will pop round to Rishi's place and pay the VAT, I promise!!!

 

[TeaTime]

Of the two orders i have made (one from Germany and one from USA) in the last couple of months i have been charged nothing. Both orders were just under £135. Previous to 'brexit' every USA order i have made regardless of price has had VAT and 'handling fees' applied.

As far as i am aware all imported items should be having 20% VAT added at the point of purchase. This does not appear to be happening in some cases and i suspect that some couriers are assuming the VAT has already been paid.

As far as i can tell If an order exceeds £135 then both the duty and the VAT are collected by the courier along with their 'admin fees', if the value declared is under £135 then, at the moment, there appears to be no additional costs. 

I am not an import professional but i once met one at a party....

 

Edited April 24, 2021 by TeaTime
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[Figgins]

Interesting about import tax I received this from the Perth Mint.

Quote

 

You recently placed an order with The Perth Mint totalling $139.55 for delivery within the UK.

Due to new tax laws in the UK the minimum amount for orders placed for UK delivery is AUD 300 (150 GBP). Your order doesn’t quite meet this threshold and therefore cannot be processed.